Governance
Financial Statements
Additional Information
Strategic Report
25. Risk management / Continued Concentration risk
As discussed above, all of the Group’s investments are in the UK and therefore the Group is exposed to macroeconomic changes in the UK economy. Furthermore, the Group derives its rental income from around 400 occupiers, although the largest occupier accounts for only 3.6% of the Group’s annual contracted rental income. Currency risk The Group has no exposure to foreign currency risk. 26. Related party transactions The total fees earned during the year by the Non-Executive Directors of the Company amounted to £287,000 (2023: £275,000). As at 31 March 2024, the Group owed £nil to the Non-Executive Directors (2023: £nil). The remuneration of the Executive Directors is set out in Note 7 and in the table on page 120 in the Annual Remuneration Report. Picton Property Income Limited has no controlling parties. 27. Events after the Balance Sheet date The sale of Angel Gate, London EC1 completed on 16 April 2024 for £29,600,000. The £16,400,000 drawn under the revolving credit facility with National Westminster Bank Plc was repaid in full on 18 April 2024. A dividend of £5,050,000 (0.925 pence per share) was approved by the Board on 30 April 2024 and will be paid on 31 May 2024.
Picton Property Income Limited / Annual Report 2024
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